The figure, a record for a Ryder Cup held in Europe, is an 11% increase on the €235million generated in 2018 when the biennial contest was held at Le Golf National in Paris, France.
Researchers from Sheffield Hallam University’s Sport Industry Research Centre (SIRC) considered spending by all spectators and other event attendees, plus all organisational spending, including by Federazione Italiana Golf (FIG) on the course and infrastructure upgrades, as well as other indirect or induced spending.
More than 271,000 people from 100 different countries attended last year’s contest at Marco Simone Golf and Country Club. It was the first-time the Ryder Cup had been held in Italy, which became only the third country in continental Europe to host the biennial contest, following Spain in 1997 and France in 2018.
Other key findings of the report include:
- Spectators staying in paid accommodation in Rome during Ryder Cup week generated more than 318,000 commercial bed-nights, which was worth €34million in revenue for the local accommodation sector. There was €72million in non-accommodation related expenditure by spectators.
- Around 19% of event-specific visitors to Rome decided to extend their visit prior to or following the event.
- Almost two-thirds of international spectators who visited for the event expressed a desire to return to Italy for leisure purposes in the next year, fuelled by their Ryder Cup experience.
Robbie Millar, researcher in SIRC at Sheffield Hallam, said: “Our third economic impact study of The Ryder Cup demonstrates how successive hosts have learnt to maximise the economic benefit that the event generates. Our findings reinforce Ryder Cup Europe's strategy of selecting 'iconic' destinations for hosting home Ryder Cups.
“Hosting major sporting events in attractive tourist destinations provide spectators the opportunity to 'build in' extended trips, which amplifies the economic benefits. In addition, we find consistently that major golf events are catalysts for significant economic activity for the hosts. The positive economic impact of the 2023 Ryder Cup will be felt in and around Rome for years to come.”
Guy Kinnings, Chief Executive Officer of the European Tour Group, said: “The figures highlighted in this independent economic impact report demonstrate the major benefits that Ryder Cup delivers for a host country through spectator and visitor spending, as well as an enduring legacy.
“From a sporting and fan engagement perspective, Rome 2023 has already gone down as one of the greatest Ryder Cup’s in history. We can now confidently conclude that the 2023 contest at Marco Simone also generated record financial rewards, providing a significant direct boost to the economy in Rome and in Italy."
The Sports Industry Research Centre sits within the School of Sport and Physical Activity at Sheffield Hallam University.
